SB1389 expands the definition of mandated reporters to include financial institution employees and broker-dealers, and defines financial exploitation.
SB1389 amends the Adult Protective Services Act by expanding the list of mandated reporters to include employees of financial institutions and broker-dealers. It defines financial exploitation as the use of an eligible adult's resources by another to the disadvantage of that adult. The bill also outlines the circumstances under which a financial institution or its employees may delay or refuse a transaction if they suspect financial exploitation. It exempts nonsupervisory employees from personal liability for violations of this section.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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